https://www.taxtmi.com/caselaws?id=368884 The revenue's appeal was partly allowed for statistical purposes, while the cross-objection was dismissed. The Tribunal remitted the matter back to the Ld. AO for re-adjudication in light of statutory provisions and recent judgments, directing the assessee to substantiate the claim with supporting evidence. The Tribunal held that adjustment of disallowance u/s 14A was not required to be made in Book Profits for the purpose of Section 115JB, following a series of judgments in favor of the assessee. The rate of 0.22% of average investment for disallowance u/s 14A based on previous Tribunal decisions was found unacceptable for the impugned assessment year. en-us Wed, 12 Sep 2018 00:00:00 +0530 Tue, 16 Oct 2018 09:49:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368884 The revenue's appeal was partly allowed for statistical purposes, while the cross-objection was dismissed. The Tribunal remitted the matter back to the Ld. AO for re-adjudication in light of statutory provisions and recent judgments, directing the assessee to substantiate the claim with supporting evidence. The Tribunal held that adjustment of disallowance u/s 14A was not required to be made in Book Profits for the purpose of Section 115JB, following a series of judgments in favor of the assessee. The rate of 0.22% of average investment for disallowance u/s 14A based on previous Tribunal decisions was found unacceptable for the impugned assessment year. Case-Laws Income Tax Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368884